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Prezzo restaurant expansion pays off

Prezzo’s expansion into the provinces from its London and south-east heartland has paid off with sales up 29% in 2007.

The company, which operates 127 restaurants across the UK under the Prezzo, Chimichanga, Ultimate Burger and Immo brands, opened 32 restaurants last year and saw sales grow to £70.1m (2006: £54.2m).

Pre-tax profit rose 25% to £13.6m.

Jonathan Kaye, chief executive of Prezzo, said: “We continue to be encouraged by the versatility and resilience of the Prezzo brand, as we have successfully expanded to a diverse range of different locations.”

Prezzo opened sites in Harrogate, Hull, Cardiff, Falmouth and Exeter in 2007 and since the New Year has opened a further five sites.

Five more sites will open this year reflecting the operator’s caution surrounding the currently challenging trading environment.